Property Type

Abby Development Breaks Ground on 234-Unit Apartment Community in Tyler

by Taylor Williams December 18, 2017

TYLER, TEXAS — Abby Development has broken ground on Auberge at Tyler, a 234-unit multifamily community located on Grand Boulevard near the intersection of Old Jacksonville Highway in Tyler, about 100 miles east of Dallas. Amenities will include a pool with swim-up tanning ledges, a stocked fishing pond, fitness center and yoga studio, a dog park, a resident lounge with a kitchen and coffee bar and a cabana area with flat-screen televisions. The community is expected to open during the second quarter of 2019.

December 18, 2017

Stream Completes Renovation of 549,000 SF Office Building in Dallas

by Taylor Williams December 18, 2017

DALLAS — Stream Realty Partners has completed the renovation of Pinnacle Tower, a 24-story, 549,000-square-foot office building located along the LBJ Freeway in Dallas. The yearlong project delivered upgrades such as new exterior lighting to showcase the design and a remodeled lobby with a Starbucks Coffee, full-service restaurant and outdoor patio. Other additional features include a tenant lounge, fitness center, conference center and shuttle service to and from the Galleria mall and local restaurants.

December 18, 2017

Retail Texas

Marcus & Millichap Closes Sale of 9,600 SF Retail Center in Denton

by Taylor Williams December 18, 2017

DENTON, TEXAS — Marcus & Millichap has closed the sale of Elm Street Center, a 9,600-square-foot retail property located at 1803 Elm St. in Denton. Built in 1975, the property was 85 percent leased at the time of sale to tenants such as Musician’s Hub, Orbit Press and Guatelinda Café. Lisa Estrada and Austin DiCambio of Marcus & Millichap represented the seller, an individual/personal trust, in the all-cash transaction. The property sold to an out-of-state buyer.

December 18, 2017

Industrial Office Texas

NAI Robert Lynn Secures 36,450 SF Flex Lease in Arlington

by Taylor Williams December 18, 2017

ARLINGTON, TEXAS — NAI Robert Lynn has secured a 36,450-square-foot industrial/office lease at 640 107th St. in Arlington. Michael Stanzel of NAI Robert Lynn represented the landlord in the lease negotiations. George Curry and Blake Rogers of JLL represented the tenant, Incab America LLC, a Georgia-based manufacturer of fiber optic cable.

December 18, 2017

Hospitality Oklahoma Texas

Home2 Suites by Hilton Opens 115-Room Hotel in Oklahoma City

by Taylor Williams December 18, 2017

OKLAHOMA CITY — Home2Suites by Hilton has opened a 115-room hotel located off Interstates 40 and 44 near Will Rogers Airport in Oklahoma City. The pet-friendly property features amenities such as a combined fitness and laundry area, an indoor saltwater pool and a fire pit and grill area. Suites offer fully equipped kitchens and modular furniture. Nashville-based Platinum Hospitality LLC will manage the property.

December 18, 2017

Florida Loans Mixed-Use Southeast

Trez Forman Capital Provides $74.8M Construction Loan for Mixed-Use Project in Orlando

by Camren Skelton December 18, 2017

ORLANDO, FLA. — Trez Forman Capital Group has provided a $74.8 million construction loan for Church Street Plaza, a 26-story mixed-use development in downtown Orlando. Trez Forman is a joint venture between Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group. Plans for the new development include 200,000 square feet of Class A office space, a 180-room hotel, a ground-floor restaurant and a rooftop bar/lounge area. Kolter Hospitality will acquire the hotel portion of the project, which is located on the northeast corner of South Garland Avenue and West South Street. The building’s parking garage will connect to the Church Street Station SunRail stop.

December 18, 2017

Multifamily Southeast Virginia

StoneBridge Buys Apartment Community in Richmond for $54.2M

by Camren Skelton December 18, 2017

RICHMOND, VA. — StoneBridge Investments has acquired Copper Spring, a 366-unit apartment community located at 3301 Copper Mill Trace in Richmond, for $54.2 million. Eastdil Secured arranged the transaction on behalf of the seller, an affiliate of Atlanta-based Clarion Partners. Constructed in 1989 and renovated in 2006, the property features two resort-style pools, a fitness center, business center, lighted tennis courts, racquetball court, grilling stations, gaming area and a coffee bar. StoneBridge plans to upgrade the clubhouse and other common-area amenities, as well as some individual residences. ZRS Management, an affiliate of StoneBridge, will mange Copper Spring.

December 18, 2017

Multifamily Seniors Housing Southeast Tennessee

Blueprint Brokers $16M Sale of 119-Bed Skilled Nursing Facility in Nashville

by Camren Skelton December 18, 2017

NASHVILLE, TENN. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 119-bed skilled nursing facility in Nashville. A public REIT sold the undisclosed property to an owner-operator looking to grow in the area for $16 million. The multi–story facility was originally built in 1970, then renovated and expanded in 2013. The nearly 100,000-square-foot facility was later acquired in 2016 as part of a large portfolio transaction, and the lessee was retained to continue operating the portfolio. Ben Firestone and Michael Segal of Blueprint arranged the transaction.

December 18, 2017

Industrial South Carolina Southeast

Frampton Breaks Ground on 46,028 SF Manufacturing Facility in Coastal South Carolina

by Camren Skelton December 18, 2017

CONWAY, S.C. — Frampton Construction Co. LLC has broken ground on a 46,028-square-foot manufacturing facility located within Atlantic Center in Conway, roughly 15 miles northwest of Myrtle Beach. Agracel Inc. is developing the project, which will be leased to Teknoware, a Finnish manufacturer of interior lighting systems for commercial vehicles. In addition to manufacturing space, the building will include 5,000 square feet of office space. The project is slated for a May 2018 completion.

December 18, 2017

Retail South Carolina Southeast

Belk | Lucy Arranges $3.6M Sale of Retail Center Near Charleston

by Camren Skelton December 18, 2017

JOHNS ISLAND, S.C. — Belk | Lucy, a Charleston-based real estate firm, has arranged the $3.6 million sale of Bees Ferry Landing, a 15,159-square-foot shopping center located at 3750 Savannah Highway on Johns Island, a suburb of Charleston. Chris Dion of Belk | Lucy arranged the transaction on behalf of the buyer, El Cid Alpha LLC. Genco Olive Oil Co. LLC sold the asset. The center currently houses tenants such as Domino’s Pizza, Chucktown Fitness and Subway.

December 18, 2017

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